Deep or shallow?

On officially entering the recession which everybody knew had arrived already, UK economists are surveyed. If you dont want to know the results, look away now”Not only do Q3’s GDP figures confirm that the UK has entered a recession, but the 0.5% drop (consensus 0.2%) is truly shocking. “This figure is worse than we expectedŔ Ӆany significant recovery currently seems unlikely before 2010, and even then growth is likely to be below trend.” For the services sector to shrink for the first time since 1992 marks a turning point in the economic fortunes of the UKŔ. World wide The sell-off in sterling and the sharp drop on European and Asian stockmarkets suggests that the troubles of rest of the world are only just beginning.. But its an ill wind.. Go-Ahead is just the latest in a series of bus and train operators to report soaring demand in recent weeks, with ever more drivers choosing to leave their cars at home.